Spectator on facebook

Spectator on facebook

EU: Slovakia and Estonia only eurozone economies expected to grow in 2012

Slovakia and Estonia will probably be the only economies among the 17 members of the eurozone to record growth in 2012, European Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn stated on Thursday, February 23.

Slovakia and Estonia will probably be the only economies among the 17 members of the eurozone to record growth in 2012, European Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn stated on Thursday, February 23.

While the European Commission expects a fall in GDP (averaging -0.3 percent) across the eurozone, Slovakia and Estonia can expect 1.2-percent growth in 2012. Across the entire 27-member EU, where GDP is expected to remain broadly unchanged, Slovakia and Estonia are forecast to occupy joint sixth place in GDP growth in 2012, after Poland (2.5 percent), Lithuania (2.3 percent), Latvia (2.1 percent), Romania (1.6 percent) and Bulgaria (1.4 percent).

The prognosis for Slovakia notes that the country benefited from stronger-than-expected fourth quarter growth in 2011 (0.9 percentage points higher than the EC's expectations). However, the latest prognoses of industrial production and construction indicate a slight drop in 2012, the TASR newswire wrote. This deterioration will be largely due to the overall situation in the region, given that as much as 80 percent of Slovakia's exports got to EU markets. Meanwhile, the EC expects inflation in Slovakia in 2012 to be 1.9 percent, according to the harmonised index of consumer prices (HICP). Inflation averaged 4.1 percent in 2011.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Remnants of the barbed-wire fence recall a totalitarian past

The last fragments and replicas of the physical Iron Curtain are in Devínska Nová Ves and Petržalka

The memorial and replica of the barbed-wire fence and several tank barriers

We are in for a hot summer

Europe has done very little to prepare for a reprise of mass refugee flows.

Refugee camp Traiskirchen

Bratislava book festival highlights foreign illustrations, writers

The fifth year of the book festival in the Slovak capital offers, apart from local authors and illustrators, a host of foreign guests, including exhibitions of two French artists.

Laurent Moreau - illustration

Kiska: The arrogance of politicians prevails over democratic values

The president stressed the role of independent media and journalism in a democratic society at the security conference GLOBSEC.

President Andrej Kiska